Shares of Godrej Properties were trading 0.87% higher at ₹2,149 on Thursday, November 20, after the company announced the acquisition of an additional 3.8-acre land parcel in South Bengaluru. The new purchase expands its development potential and lifts the project’s overall revenue outlook.
In a press release, the company said the newly acquired land unlocks ₹2,400 crore of additional revenue potential and adds around 2 million sq. ft. of developable area. With this expansion, the combined project—spread over roughly 30 acres—is now estimated to generate ₹3,500 crore in revenue with a total development potential of about 3 million sq. ft.
Gaurav Pandey, MD & CEO of Godrej Properties, said the expansion allows the company to create a larger, integrated development in the corridor, supported by strong project performance and customer demand.
Earlier, the company reported a 20% year-on-year rise in consolidated net profit to ₹405 crore for the September quarter. Booking value for the July–September period stood at ₹8,505 crore, up 64% YoY, while revenue for the quarter declined 32% YoY to ₹740 crore.
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